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A Component Unit of the State of Montana Consolidated Statements of Net Assets_part2

Quản lý THẢO LUẬN VÀ PHÂN TÍCH TÀI CHÍNH NĂM kết thúc ngày 30 tháng Sáu, năm 2008 TỔNG QUAN Đại học Montana (Đại học) là bao gồm bốn cơ sở: Các trường Đại học Montana Missoula, Trường Đại học Montana - Tây; trường Đại học Montana - Helena Trường Cao đẳng Công nghệ; và Montana công nghệ của Đại học Montana. | A-3 THE UNIVERSITY OF MONTANA THE UNIVERSITY OF MONTANA - MISSOULA THE UNIVERSITY OF MONTANA - WESTERN THE UNIVERSITY OF MONTANA - HELENA COLLEGE OF TECHNOLOGY MONTANA TECH OF THE UNIVERSITY OF MONTANA MANAGEMENT S DISCUSSION AND ANALYSIS FISCAL YEAR ENDED JUNE 30 2008 OVERVIEW The University of Montana University is comprised of four campuses The University of Montana -Missoula The University of Montana - Western The University of Montana - Helena College of Technology and Montana Tech of The University of Montana. This discussion addresses the consolidated financial statements for the four campuses and included are three basic statements the Statement of Net Assets the Statement of Revenues Expenses and Changes in Net Assets and the Statement of Cash Flows. The discussion and analysis which follows provides a comparative overview of the University s financial position and operating results for the fiscal years ended June 30 2008 2007 and 2006 and should be read in conjunction with the fiscal year 2008 financial statements. FINANCIAL HIGHLIGHTS The financial highlights for fiscal year 2008 were In accordance with the College Affordability Plan CAP announced by the Governor in September of 2006 and approved by the 2007 Session of the Montana Legislature tuition was held at levels in effect for 2007 for all the Campuses of The University of Montana for in-state students. Investment earnings decreased by 5.3 million as compared to the prior year. The decrease can be attributed to the following factors 1 The fair value of endowed equity investments decreased by 2.3 million 2 the yield on investments declined due to lower interest rates in the market place and 3 about 12 million from bond proceeds was utilized in new construction. Long term obligations and advances from primary government decreased by 5.4 million. The University issued new long-term debt totaling 343 000. Net assets of The University increased by 10.8 million as a primary result of capital grants gifts